No. of Recommendations: 1
My final point, and tied to the above, is the strength of Mulally as CEO. I remember when he was first appointed and their were all kinds of comments along the lines of "What can an airplane guy teach us?" (He came from Boeing, if you remember.) Well, it turns out that he's taught the company to take pride in its work and itself and he was able to see the oncoming trouble soon enough for the company to do something about it, cutting costs and attacking the balance sheet so that he didn't have to go hat in hand to Congress, asking for help.


Jim,

From what I've seen of Mr. Mulally, he seems very smooth and polished. His clean image undoubtedly helped him get some of our tax dollars as was revealed at the end of 2010. That Ford did not receive our tax dollars is a myth according to Eric Fry of dailyreckoning.com "During the crisis of 2008-9, the Federal Reserve and Treasury operated as covertly as the CIA – doling out trillions of dollars in bailouts and guarantees to a handful of coddled corporations. Those financial “black ops” produced myriad deceptions in the financial markets.---

...for example, Ford Motor Company borrowed as much as $7 billion from a lending facility of the Federal Reserve. But the details of these borrowings did not come to light until just three weeks ago. And even now, very few investors – or car-buyers – seem to realize that GM and Chrysler were not the only “Big 3” car companies to receive a helping hand from the government. Ford also cashed a few government checks."

Read more: The Half-Truth and Nothing But the Half-Truth http://dailyreckoning.com/the-half-truth-and-nothing-but-the...

So far I've found dailyreconing to be a reliable source.

im
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.